PhoneBrasil International, Inc. (Pink Sheets: PHBR), announces a $60 million joint venture with AMITELO AG (Pink Sheets: AELOF) and a 5 year contract with the Government of Colombia.
PhoneBrasil announced today that it has entered into a joint venture with Amitelo AG. Under the terms of the joint venture, PHBR will provide the expertise necessary to develop and operate under a 5 year, $60,000,000 contract, a telecommunication program commissioned by the government of the Columbia. PhoneBrasil will not only develop and service the program but will provide the equipment, traffic as well as required communication minutes.
Anderson Dias CEO of PhoneBrasil stated, "this is a program for the Government of Colombia, and approved by the Government of Colombia, for a communication program to be established." The Government of Colombia website for this program is www.compartel.gov.co
Furthermore the company will be updating the market with any and all ongoing events. PHBR will be releasing details on this agreement and program as well as others from time to time.
AMITELO AG comprises the following subsidiaries: http://www.amitelo.ag/index.php?content=management&action=strucktur
About AMITELO AG:
AMITELO AG http://www.amitelo.ag/index.php?content=aboutus is a Swiss enterprise formed to acquire operations and assets in the telecommunications sector. It focuses on internet telephony and telecommunications technologies for deployment in niche and underserved domestic and international markets. To achieve the Group's objectives, AMITELO AG is planning to use proceeds available from cash flow and capital increases to finance existing business divisions and to make strategic acquisitions in keeping with its business plan. AMITELO AG has completed a strategic survey of candidate companies and regions to source opportunities for an integrated telecom group model. In doing so, it has identified expansion opportunities for AMITELO's existing business divisions in the form of strategic acquisitions in the sectors of Voice-over-Internet Protocol (VoIP), broadband and wireless technology and global solutions. AMITELO has developed its own hardware and software which is sold in competitive markets in central Europe as well as in under-supplied yet fast-growing regions of North and West Africa, South America, southern Europe, as well as in the Middle East. In addition, AMITELO provides consultancy services and supports companies of all sizes in modernizing their telecommunication infrastructure.
About PhoneBrasil
PhoneBrasil International, Inc. is an American based company specializing in Hybrid VOIP, cellular, Broadband and WIFI Technology in the Latin American market as well as servicing the International Telecommunication Markets. PhoneBrasil presently services four niche markets supplying VOIP Technology to and for the wholesale and retail markets as well as providing calling cards and boxes. PHBR offers prepaid VoIP calls and equipment, and remains focused on dominating technological aspects like software, billing, supply, and cost savings for the new VOIP industry.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995:
This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as PHBR or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements in this release that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.
Shareholder Information Gateway: http://www.brasil-telecom.com/
Corporate Website: http://www.phonebrasil.net/